Toys R Us has gone into administration five years after the company was saved.
In a statement to the ASX the company said the business has been put into voluntary administration.
Toys R US ANZ has put Luke Andrews and Duncan Clubb from BDO Business Restructuring in charge of the restructure to the toy store.
“As previously announced to the market, the company has been pursuing a recapitalisation plan with the support of its primary stakeholders,” Toys R Us said in the ASX statement.
“However, the company is no longer in a position to pursue a solvent recapitalisation plan.
“In light of these events, the board has determined that the company is, or is likely to become, insolvent and…
